Addleshaw Goddard Leeds Advises on £65m Kingsland Funding

Addleshaw Goddard Leeds finance team advises Barclays on £65 million funding package for employee-owned drinks business, led by newly promoted partner Philippa McCarthy

Addleshaw Goddard Leeds has advised Barclays Bank on a £65 million funding package for Kingsland Drinks Group, the employee-owned drinks specialist headquartered in Irlam, Greater Manchester. The deal was led from AG’s Sovereign Square office by Philippa McCarthy — one of the five lawyers recently promoted to partner in the firm’s 2026 round, which saw Leeds produce the largest group of new partners of any Addleshaw Goddard location. The financing provides enhanced working capital flexibility and supports Kingsland’s growth strategy across contract bottling and canning, product development, and sourcing for UK retailers and drinks brands.

Why This Matters For Leeds

This deal illustrates the scale of deals Leeds’ growing professional services sector are involved with. Philippa McCarthy leading this transaction from the Leeds office, weeks after being promoted to partner, is a direct connection to the AG promotions story we covered earlier this month. For Kingsland Drinks, the funding supports growth in a fast-moving sector.

What the Addleshaw Goddard Leeds Deal Covers

The £65 million facility was provided by Barclays as an asset-based lending package. Kingsland Drinks Group, which traces its history back to 1955 and transitioned to employee ownership in 2021, has evolved into a diversified drinks partner with a strong presence in branded and own-label wines, an expanding spirits offering, and a growing focus on the no and low alcohol category. Managing director Sarah Baldwin is leading the company’s current growth phase. The new funding is expected to unlock further investment opportunities and support long-term sustainable growth across its product range.

“”The funding provides the business with the flexibility to invest further in its capabilities, particularly in high-growth areas such as the no and low alcohol segment, while continuing to deliver for its retail and brand partners.””

— Philippa McCarthy, Legal Director, Addleshaw Goddard Leeds

A Leeds Finance Team on the Rise

The Addleshaw Goddard Leeds team drew on cross-practice expertise in asset-based lending and property to deliver the transaction. Philippa McCarthy led the deal with support from Kayleigh Brady and Dana McCann in asset-based lending and Kate Barry in property. McCarthy’s promotion to partner, alongside Geoff McGinley and James Washington (also Finance), Edward Ainscoe (Corporate Finance), and Laura McAuley (Real Estate), underlined what AG’s Leeds office head Lucy Sturrock described as the city’s position at the heart of the UK’s ‘Northern Square Mile’ for financial and professional services. This deal is a practical example of that, a £65 million financing transaction led from Sovereign Square. Read more Leeds business news across all sectors.